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Australian executive allegedly stole $2.7m from Singapore’s CapitaLand

Campbell Kwan
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One of Singapore’s largest real estate developers was allegedly duped out of $2.7 million by a senior executive in Australia who has since disappeared in South Korea.

CapitaLand has more than $9 billion in assets in Australia, including a string of Quest-branded hotels and a big portfolio of industrial properties. It has accused Yongho Lee – who sat on its local board until 2020 – of stealing from its primary lodging trust CapitaLand Ascott Trust by faking tax, insurance and legal documents.

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Campbell Kwan covers commercial and residential real estate for The Australian Financial Review, based in the Sydney newsroom. He was previously the breaking news reporter. Email Campbell at campbell.kwan@afr.com
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    Original URL: https://www.afr.com/property/commercial/australian-executive-allegedly-stole-2-7m-from-singapore-s-capitaland-20240912-p5ka3u